explain to me how BTC is not a ponzi scheme?
Explain to me how BTC is not a ponzi scheme?
Matthew Perez
Other urls found in this thread:
charts.bitcoin.com
en.wikipedia.org
99bitcoins.com
en.wikipedia.org
arstechnica.com
twitter.com
Brayden Jackson
Extra governmental non inflationary globally secured highly divisible easily transferable value.
Can you name anything else that has these characteristics?
Ayden Ortiz
It chugs tons of energy and is NOT easily transferable. Also extremely volatile in price/value/whatever.
Gold, paper cash, and even certain cryptos are better than BTC.
Jaxson Jones
you can't use beanie babies to buy meth on the darkweb
Wyatt Sullivan
>non inflationary
>drops 80% in value
imagine being THIS dumb
Jayden Wood
explain what you think a ponzi scheme is
Jackson Collins
I don't care if she's a little thicker around the waist than most models, I would absolutely devastate her.
Carter Young
ponzi is a confidence scheme
btc is a speculative asset that was designed to be finite
Thomas Hill
find any 3 year period where btc did not grow on value from start to end!
Aaron Bennett
>Cap on how many can exist
>Ponzi
You do realize that a literal ponzi has no maximum correct? XRP would be a better candidate for a ponzi
Austin Sullivan
In a ponzi you take the money from the new guys and give it all to the early guys. The new guys start at a loss basically and have to lure new people in to even get back to 0 while the early guys get massive returns.
Jeremiah Robinson
honestly she could gain another 20lbs and still be great
Nathan Reyes
It's more like a dollar auction. Look it up, nigga.
Luis Cruz
based and redpilled
Brayden Hill
>volatility = inflation
I swear I get dumber just reading this board.
William Peterson
>No one is guaranteeing returns.
>No one is using new investments to pay returns
Muh ponzi is the surest sign that whoever is talking is an ignorant asshat.
Thomas Cook
Its unironically a strong buy signal. Loading up more fiat today.
Angel Ramirez
>It chugs tons of energy
So do the credit card servers.
Luke Evans
look up "ponzi scheme" in the dictionary
William Howard
The money funnels downward, not up to the top of the pyramid, idiot.
Andrew Watson
>literally not knowing what inflation is
Wyatt Gonzalez
They handle much more wealth. Bitcoin wastes more energy than the country of Denmark while holding much lese wealth than Denmark's GDP.
Parker Ramirez
explain to me how anything is not a ponzi scheme?
Ryan Torres
It is, a decentralized ponzi scheme
Btc is inflationary, 4.13%
charts.bitcoin.com
Ian Price
>inflation
>finite supply
Adam Johnson
for the time being. Come back in 10 years
Jordan Sanchez
Ian Russell
>non-inflationary
>"hey everyone we're going to do a bunch of forks this year so we can get a bunch of free coins to sell"
Mason Richardson
If you don't get it already, you weren't mean to make it.
Justin Harris
Apparently you either dont know what a ponzu scheme is, or you dont know how BTC works. Which is it you dont understand and I'll explain.
Gabriel Brooks
Kek sure. In 10 years BTC will be myspace tier, while a different more efficient coin will take over.
Evan Cruz
The real btc is chainlink which is $1000 eoy
Lucas Allen
that's possible but so far there is no real contender to specifically what btc delivers.
Aaron Wilson
The longest blockchain = bitcoin. Bitcoin is and will be the longest chain forever. Currency alts will plummet to 0 in 5 years.
Bentley Howard
>things cost 4 times more in btc than they were a year ago
>not inflation
back to school kiddos
Hudson James
inflation halving every 4 years is not the same as finite supply
Jacob Reed
a lot of coins deliver more than 3 confirmations over a few hours though
James Stewart
refers to circulating supply genius
Asher Brooks
the supply is hard coded to 21 million coins
Benjamin Reyes
This bitch was so overrated
Lincoln Carter
Thomas Wright
dumbass, inflation isn't caused exclusively by the circulating supply, even with finite supply you still have inflation
Josiah Gomez
HAHAHAHAHAH DUDE YOU CANT ACTUALLY BE THIS RETARDED FOR THE LOVE OF GOD LOOK UP THE DEFINITION OF INFLATION
James Richardson
give me 2 years
Noah Nelson
if you tried to buy something with btc a year ago it would've been 5 times cheaper than today, thus prices increased by 500%.
Imagine how much of a brainlet you must be to not understand such a simple concept
Jace Butler
HAHAHAHHAAHAHAHHAHAHA HOLY SHIT YOr SERIOUS
Benjamin Cruz
5 years ago it took a lot more bitcoin to buy a house. Now it takes less bitcoin. If you are actually serious? If so seek help maybe tutoring not sure your circumstances.
Xavier Ward
Who gives a shit if it's finite supply when other crypto can easily be substituted in. It's bad as a currency and bad as a commodity
Leo Torres
explain to me how is she considered hot?
Hunter Martin
Tyler Perez
too bad that inflation is counted by 1 year period and not 5
Noah Nguyen
Literal brainlet who believes in “muh forks are inflation” kek
William Flores
Why not 6 months? Why not 1 month? Why not 1h candles? You’re too far gone.
Connor Roberts
because everyone measures economies by annual metrics, its called the business cycle dummy
Lucas Price
Inflation is good, it helps circulate. Bitcoin is clearly useless as a currency because everybody is hoarding it, it's slow to use and nobody accepts it after 10 years. So what is it? An investment? Fell 80% and has no underlying asset value
James Watson
Its a chuck e cheese token.
Michael Thompson
chuck e cheese tokens are actually accepted by some stores though
Camden Evans
Jaxon Clark
currencies are supposed to be stable stores of values not volatile shitcoins. No merchant will ever adopt a currency that moons and crashes every week
Matthew Wood
Jonathan Williams
so fucking what
*snap*
James Robinson
Smh. But I thought this too at one point. We are brainwashed into believing that money must have a “high velocity” and be stable etc. Mises institute has a great course for free on why bitcoin is valuable. Bitcoin standard is pretty good too from an economic pov and history of money.
Parker Rodriguez
autism
Logan Moore
Human population was a boomer scheme because everyone before and after will have it worse.
Kevin Scott
This is cringe. BTC has 10 years of organic growth and recognition. Something in the future is going to be built and just magically take over? The whole point of crypto is to do business over the internet where the government cant intervene. For this BTC is the currency of choice hands down.
Kayden Harris
if bitcoin is a ponzi scheme believeing in the value of money is a ponzi scheme
Hudson Parker
Noah Parker
>> Easily transferrable.
>> Blockchain can only handle 6 transactions per second in the entire world.
Pick one.
Samuel Collins
>> Gold listed as non sovereign and non decentralized.
This chart is stupid and so are you.
Dominic Jackson
meh use nem or some other pos or dpos is your worried about energy
David Ward
In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee. There is no central entity, just individuals building an economy.
A Ponzi scheme is a zero sum game. In a Ponzi scheme, early adopters can only profit at the expense of late adopters, and the late adopters always lose. Bitcoin can have a win-win outcome. Earlier adopters profit from the rise in value as Bitcoin becomes better understood and in turn demanded by the public at large. All adopters benefit from the usefulness of a reliable and widely-accepted decentralized peer-to-peer currency.[4]
It is also important to note that Satoshi Nakamoto, creator of bitcoin, has never spent a bitcoin (other than giving them away when they were worthless) which we can verify by checking the blockchain.
Jonathan White
Because the principles of price action aren't a Ponzi scheme brainlet. Because supply and demand isn't a Ponzi. Under your understanding of Ponzi, literally everything Is a ponzi scheme
David Watson
imagine being this mentally retarded.
Stay Jow Forums biz
William Russell
>All adopters benefit from the usefulness of a reliable and widely-accepted decentralized peer-to-peer currency.
Ok, but what does this have to do with Bitcoin? It's not reliable or widely accepted.
Jose Price
I was buying all kinds shit in 2012. If you don't know where to go to buy stuff with bitcoin FIVE years later then you're just fucking braindead. Remember that there are about 5 million wallets ever created owned by actual individuals out of the 30 million created.
Ian Gray
gold supply is definitely centralized, and the price is fixed in London
en.wikipedia.org
in other words, kys stupid
Jace Young
Realistically you'd need to insert a frame after $1000 showing the guy going all in at $20K, then the last frame should say $100 instead of $100K.
Aiden Ross
>If you don't know where to go to buy stuff with bitcoin FIVE years later then you're just fucking braindead
No shop or restaurant in my city accept Bitcoin. Or you mean something like buying drugs and child porn on darknet?
Brody Clark
Speculation is not the same as natural growth. Notice how Bitcoin is still higher than it was before the rise to 20k. That 20K spike was not natural, it's pure speculation. The current price of Bitcoin reflects the speculators not the technology behind it.
William Gonzalez
When LN gets widely adopted, you'll be able to buy with Bitcoin very easily. Microsoft and Starbucks are going to be using Bitcoin when Bakkt comes out next year.
99bitcoins.com
Asher Hernandez
>zero arguments
>posts cringe memey pic
not like I expected anything more from biz brainlets
Jacob Nelson
All those pictures you posted are literally you.
Juan Carter
Yes that's literally what you've done this entire thread. Fucking monkey
Michael Campbell
>too dumb to make arguments
>can only "argue" by posting meme images that others made
how does it feel to be too dumb to defend your beliefs?
Robert Turner
Because you've already been rekt by other people in this thread.
Angel Hernandez
Because poo-poo pee-pee
Gavin Martin
not really, I BTFO everyone of them and I would BTFO you too but you are too dumb and scared to even try to argue with me
Daniel Stewart
A currency that is valued by speculation instead of the traditional backings of national currencies is nothing more than monopoly money.
Reminder that this comic was made on December 14th, 2017. Crypto is a ponzi scheme and you're a fucking retard for buying into it.
Ryan Parker
anyone who wasn't a retard in 2010, and had a laptop could of mined thousands of BTC.
Thats why BTC is not a ponzi Scheme.
Tyler Walker
>the ones that got into it first got the most profit
you literally described the mechanics of a ponzi
Levi Moore
Just because something is speculative now, doesn't mean it will always be that way. Bitcoin is deflationary by nature, because there are only a certain amount ever to be mined into existence. This is the opposite of fiat currecnies which are inflationary since they are not backed by anything since 1971, and thus can be printed to infinite amounts. Eventually, hyperinflation will kick in, prices will rise exponentially because of that, and it will lead to the collapse of the US dollar. This might not happen soon, but eventually it will happen, and anyone who has his wealth only in fiat is going to get rekt. Doesn't matter which fiat, because all fiat are tied to the $ and the $ is tied to nothing since 1971.
Elijah Stewart
complete brainlet. money supply is not the only determinant of inflation, even with finite supply you can still have inflation. Regardless of that, deflation is even worse that inflation, deflation means stagnation and no growth and low wages and the people that hoard the most coins control the market. It doesn't matter if products get cheaper when your wages go down too, you will still be just as poor
Aaron Morales
Liam Jones
Market manipulation is only going to go down as this thing grows bigger. In the end only time will tell. I hope that I am wrong and crypto will fail as you say it will, because that would mean that the global economy will not crash and millions of people will not be in financial ruin. In the end, only time can tell.
>One wallet getting hacked means Bitcoin itself is not theft resistant
?
Ryan Walker
Your entire argument is literally "With the proper precautions, it can't happen". Guess what else that argument applies to? EVERYTHING. God damn you are dumber than dirt.
Caleb Cox
How does that make me dumb? If you can't properly secure your private keys and trust some wallet to do it for you, then you are the only one to blame. You guys are really naive to think that you're smart and everyone else is a brainlet.
Eli Peterson
economies crash and recover all the time, btc doesn't solve any of the problems that make economies crash, quite the opposite, it would make economies even more volatile and unpredictable. Your whole premise that btc is good is that guberments are evil just like that edgy book 1984 you heard some faggot on leddit talking about
Mason Murphy
ITT: retards who have never seen a supply/demand chart argue about price inflation.
Thomas Sullivan
>A currency that is valued by speculation instead of the traditional backings of national currencies is nothing more than monopoly money.
Apparently it's not. Have you ever seen anyone buying monopoly money for thousands of dollars?